Standard & Poor’s commented that the county has a history of strong financial management and moderate debt burden, resulting in the outlook of “stable” being added to the rating.

Board of Commissioners Chair Sandi Frost Parrish indicated that she was pleased, but not surprised, that the rating agencies affirmed the county’s strong position. “We have positioned ourselves very well over the past several years to make sure that we are fiscally responsible,” Parrish said. “While we have had to make very difficult decisions, we believe those decisions will provide long-term benefits to the community.”

The importance of maintaining a strong credit rating is found in the savings that result when the county issues bonds for major construction projects, such as the Correctional Facility, the parking structure at the Gerald R. Ford International Airport, and the DeVos Place Convention Center, according to Administrator/Controller Daryl Delabbio. “The higher the credit rating, the lower the interest when we issue bonds; and the lower interest results in less cost to taxpayers and ratepayers,” he noted.Kent County has held the long-term Triple-A ratings from both Standard & Poor’s and Moody’s since 1999. In addition to affirming the long-term ratings, the highest short-term credit ratings of MIG1 (Moody’s) and SP-1+ (Standard & Poor’s) were confirmed.

Kent County is one of only two counties in Michigan to have the highest ratings from the two agencies. In addition, there are approximately 3,140 counties in the United States, and only 48 counties hold a Triple-A rating for long-term debt from both Standard & Poor’s and Moody’s Investors Service.